Financial Markets and Economy
Markets are galloping because Remain support is growing stronger (Business Insider)
European stocks are on a charge on Monday morning as the continent's investors look to be increasingly pricing out the chance of Britain voting for a Brexit when the country goes to the polls on Thursday.
Oil Rally Runs Out of Steam as Canadian Wildfire Threat Fades (Bloomberg)
Here comes Canadian oil to douse the hottest rally since 2009.
With oil price near $50, resilient U.S. shale producers eye new chapter (Business Insider)
Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency.
The most ‘dangerous thing’ that could push the S&P below 700 (Market Watch)
Start the countdown now. There’s just a few days left until Thursday’s vote on whether Britain quits the European Union, and the Brexit drama looks to keep us gripped until then. Polls this weekend showed a swing back to the “remain” camp, and that seems to be giving the market a huge boost this morning.
China's Silk Road Hits the Buffers (Bloomberg Gadfly)
China's efforts to open itself to the world aren't meeting much success of late, with MSCI's refusal to admit the nation's stocks to its emerging markets index the latest blow to President Xi Jinping's ambitions. Now China's attempts to build hard physical connections are looking like they, too, may disappoint.
IMF calls on Japan to 'reload' Abenomics (Nikkei)
Japan needs bolder income policies such as penalizing profitable companies that do not increase wages, the International Monetary Fund said on Monday after concluding its annual economic assessment of the country.
Despite initial success, progress under Abenomics, Prime Minister Shinzo Abe's trademark economic policies, has stalled in recent months.
Gold dented as Brexit fears momentarily recede (Market Watch)
Gold futures moved lower on Monday as appetite for riskier assets were boosted after the latest polls pointed to a resurgence in support for the U.K. staying in the European Union.
In the Birthplace of U.S. Oil, Methane Gas Is Leaking Everywhere (Bloomberg)
A mail box sits on an abandoned well pipe near blooming peonies, logs snag on metal casings rising out of a creek, children swing next to rusted pump jacks.
German trade body lowers export forecast: 'Brexit is poison' (Reuters)
German exports will grow less than expected this year due to external risks, including a British exit from the European Union and uncertainties ahead of elections in the United States and France, the head of the BGA trade association said on Monday.
Mr. Yen Sees Surge to 100 That May Increase Odds of Intervention (Bloomberg)
After correctly predicting the yen’s relentless march beyond 115, 110 and 105, former Finance Ministry official Eisuke Sakakibara now says the Japanese currency will gradually strengthen more than 4 percent toward 100 per dollar by the end of the year.
U.S. Gasoline Demand Is Likely to Slide (Wall Street Journal)
Electric cars are poised to reduce U.S. gasoline demand by 5% over the next two decades—and could cut it by as much as 20%—according to a new report being released Monday by energy consulting firm Wood Mackenzie.
Don't Believe the Fed's Stress Tests (Bloomberg View)
This week, the Federal Reserve plans to announce the results of stress tests aimed at ensuring that the largest U.S. banks could weather a major crisis. With the exercise in its sixth year, it's worth asking whether the banks are really better prepared.
Apple’s Loss in Chinese Patent Fight Seen Emboldening Rivals (Bloomberg)
Apple Inc.’s loss in a Chinese patent dispute may spell more legal trouble ahead as fast-rising local rivals get bolder in taking on the world’s largest technology company.
The pound is going nuts! (Bloomberg)
Sterling is popping on Monday after several polls over the weekend showed the campaign to leave the EU losing momentum and the Remain camp gaining support with just days until the referendum.
Italy’s Bonds Advance With Spain’s as Brexit Concern Fades (Bloomberg)
Italian and Spanish government bonds advanced as investors favored higher-yielding assets after the latest U.K. opinion polls suggested the risk of Britain voting to leave the European Union in a referendum this week has declined.
There's a booming multibillion-dollar industry that the biggest players on Wall Street won't touch (Business Insider)
Wall Street's big money is not ready to dive into the booming cannabis industry.
Negative Rates Are the Tools of Our Elderly Oppressors (Bloomberg)
Here is a diagram of things disliked by the young and the old, that may or may not reveal more about this Bloomberg writer's psyche than about the actual state of the world. Still, few would argue that the negative interest rates imposed by a handful of central banks around the world have failed to endear themselves either to an older generation increasingly composed of savers or to their children, who seem doomed to make up the shortfall in the older generation's low returns.
Putin Said to Weigh $11 Billion Rosneft Sale to China, India (Bloomberg)
Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years.
The Riddle of the Ex-Credit Suisse Banker’s $14 Million Paycheck (Bloomberg)
The last place you’d expect to find one of Credit Suisse Group AG’s highest-paid executives in 2015 is Brazil, given all the political and economic challenges facing the country.
What Makes You Unique As A Trader? (Trader Feed)
So we're walking in the old section of Bergen, Norway (Bryggen) and come across a Mexican restaurant advertising its food in a unique manner. From the looks of it, the sign was bringing people in.
Politics
Wall Street donors seek to block Warren VP pick (Bloomberg)
Big Wall Street donors have a message for Hillary Clinton: Keep Elizabeth Warren off the ticket or risk losing millions of dollars in contributions.
In a dozen interviews, major Democratic donors in the financial services industry said they saw little chance that Clinton would pick the liberal firebrand as her vice presidential nominee.
Trump Holding Meeting With Advisers to Reassess Strategy (Bloomberg)
Republican presidential candidate Donald Trump is gathering his top lieutenants, including members of his family, in New York on Monday to discuss a political strategy shift as he looks to move beyond recent missteps.
Trump is facing pressure from within his own inner circle — including from donors — who are growing increasingly frustrated with what they see as a lack of coordination and communication, members of Trump's staff told Bloomberg Politics, at a crucial moment in the presidential race.
Technology
Toyota Researcher Sees Cheap Robots Possible by Mass Production (Bloomberg)
The researcher hired by Toyota Motor Corp. to spearhead its robotics and artificial intelligence efforts says the automaker’s production principles can be applied to build affordable helper robots for rapidly aging societies.
Robot makers are struggling with the same scale challenges that the auto industry overcame with the “miracle” that occurred when Henry Ford developed the assembly line, according to Gill Pratt, the chief executive officer of Toyota Research Institute.
When Will Computers Have Common Sense? Ask Facebook (Scientific American)
Facebook is well known for its early and increasing use of artificial intelligence. The social media site uses AI to pinpoint its billion-plus users’ individual interests and tailor content accordingly by automatically scanning their newsfeeds, identifying people in photos and targeting them with precision ads. And now behind the scenes the social network’s AI researchers are trying to take this technology to the next level—from pure data-crunching logic to a nuanced form of “common sense” rivaling that of humans.
Health and Life Sciences
Pioneering cancer drug combination approved (BBC)
In trials, the combination therapy shrank the most aggressive and deadly type of skin cancer in 69% of patients.
The decision to approve the drugs is one of the fastest in NHS history and is likely to be adopted throughout the UK.
Higher risk of death with opioids than other painkillers (Futurity)
Long-acting opioids have a significantly higher risk of death when compared with other medications for moderate-to-severe chronic pain.
Not only did long-acting opioids increase the risk of unintentional overdose deaths, but they were also shown to increase mortality from cardiorespiratory events and other causes.
Life on the Home Planet
The alien world that’s being vaporised by a death ray (New Scientist)
If you wanted to see something that looks like an evaporating exoplanet close to home, you might watch a sun-grazing comet. After drifting for aeons in the outer solar system, these comets fall inwards, skimming over the sun’s surface – where many of them blow apart like dandelions. For the comet, it’s a violent trauma; but to the sun, it barely takes a puff of air.
